Common stock increased-retained earnings decreased

Assignment Help Financial Accounting
Reference no: EM13795320

Ivan's, Inc. paid $468 in dividends and $579 in interest this past year. Common stock increased by $189 and retained earnings decreased by $115. What is the net income for the year?

Reference no: EM13795320

Questions Cloud

Shares of general electric common stock : Adams Apples holds 1,000 shares of General Electric common stock. The stock was initially purchased in July 2014. On December 31, 2014, and December 31, 2015, the market value of the stock is $18 and $20 per share, respectively. What is the appropria..
Technology services provider : Assume that you are a technology services provider and you must decide whether to record revenue from the installation of computer software for one of your clients. Your contract calls for acceptance of the software by the client within six months of..
Investment in an active trading account for immediate resale : On December 29, Adams Apples purchased 1,000 shares of General Electric common stock for $19,000 and placed in investment in an active trading account for immediate resale. On December 31, the market value of the stock is $20 per share. What is the a..
Determine waggoners maximum depreciation deduction : Waggoner would like to take the maximum depreciation deduction possible. Determine Waggoner’s maximum depreciation deduction for 2015.
Common stock increased-retained earnings decreased : Ivan's, Inc. paid $468 in dividends and $579 in interest this past year. Common stock increased by $189 and retained earnings decreased by $115. What is the net income for the year?
Par value cumulative preferred stock outstanding : At December 31, 2015 and 2014, Miley Corp. had 180,000 shares of common stock and 10,000 shares of 6%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2015 or 2014. Net inco..
Shares of common stock issued and outstanding : Didde Co. had 300,000 shares of common stock issued and outstanding at December 31, 2014. No common stock was issued during 2015. On January 1, 2015, Didde issued 200,000 shares of nonconvertible preferred stock. During 2015, Didde declared and paid ..
Decision to eliminate an unprofitable segment : Which of the following is irrelevant to the decision to eliminate an unprofitable segment?
An adjustment to record the investment at fair value : Fickle Financial buys and sells securities, expecting to earn profits on short-term differences in price. On December 28, Fickle purchased Microsoft common shares for $485,000. On December 31, the shares had a fair value of $483,000. Record the initi..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Observation of physical inventory on this engagement

You are involved in your CPA firm’s first audit of Zorostria, a retailer of artwork, primarily paintings and photographs purchased from artists in Southeast Asia. Discuss difficulties you should anticipate in planning the observation of physical inve..

  Break-even point in unit sales using the equation method

Liman Corporation has a single product whose selling price is $140 and whose variable expense is $60 per unit. The company’s monthly fixed expense is $40,000. Compute for the company’s break-even point in unit sales using the equation method.

  Calculate the profit margin

Calculate the profit margin, current ratio, and acid test ratio for the company.   Emaasxye has been operating as a sole proprietorship under the name XYZ Company for the last five years. The following is the company's unadjusted trial balance for ..

  Prepare your journal entry

The company wants to maintain the Allowance for Doubtful Accounts at 6% of gross accounts receivable

  Illustrate what were the total manufacturing costs incurred

Direct materials used in production totaled $330,000. Direct labor was $415,000 and manufacturing overhead was $220,000. Illustrate what were the total manufacturing costs incurred for the month?

  Cvp analysis giving decision

CVP analysis giving decision if the price is reduced and Heister's president, J. R. D'Angelo, expects an annual profit of $100,000. How many rings must be sold to attain this profit

  Internal control procedures are in place to protect

Internal Control Procedures are in place to protect the assets of every business as mentioned in the textbook and our discussions. Of the seven internal control procedures, list five of these controls and describe how each procedure is implemented.

  With respect to guaranteed payments

If a partner contributes property subject to a liability to the partnership, the partner recognizes gain realized to the extent of the liability. ____ Payments to partners for services customarily performed by a partner and computed by reference to p..

  Calculate each of the following for each alternative

Income before interest and taxes is expected to be $3,500,000. The company has a 30% tax rate and has 600,000 shares of common stock outstanding prior to the new financing.

  Constitute unethical behaviour

Mr Phillips accepted the quote from Mr Hudson after he and Mr Dwight spent a delightful week with Mr Hudson on the latter's private island off the coast of Mozambique.

  Statements is not an advantage of a database

Which of the following statements is not an advantage of a database?

  Prepare a flexible budgetpuget sound divers is a company

prepare a flexible budgetpuget sound divers is a company that provides diving services such as underwater ship repairs

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd